Total, Petrobras close $2-bln Brazil deal

Brazil

PARIS, January 15, 2018 – Total has completed a USD 1.95-billion pre-salt deal with Brazilian NOC Petrobras, the super-major announced on Monday.

The agreement, first struck in March 2017, includes the transfer from Petrobras to Total of a 35% stake in the Lapa field in Block BM-S-9A, as well as of a 22.5% stake in the Lara area in Block BM-S-11, the company statement added.

“The realisation of our strategic alliance with Petrobras follows the recent decision to launch the wide-scale development of the giant Libra field, operated by Petrobras, in partnership with Total,” said Total CEO Patrick Pouyanné. “With this Alliance, Total is developing a major position in Brazil, in one of the most prolific basins worldwide, by taking advantage of our deep offshore expertise, which is one of our main strengths.”

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